Wall Street analysts cited slowing revenue growth and a lack of transparency for Alphabet's earnings report.
in its earnings report on Monday after the bell and they were still confused after the results. Analysts noted a slowdown in advertising revenue growth and repeated calls for the company to be more transparent in its earnings report.
Google revenue increased 17%, slower than the 28% pace a year earlier. Advertising sales increased 15%, compared to a 24% growth rate a year ago. Alphabet executives said on the call that the slowdown was due to currency fluctuations and timing of product changes but analysts apparently wanted more. Revenue deceleration was enough for analysts at Stifel who downgraded the stock to hold from buy. "The unexpected degree of revenue deceleration and lower visibility into the near-term reacceleration / deceleration potential lead us to believe the multiple on shares may be challenged to move meaningfully higher over the next twelve months," wrote Stifel analyst Scott Devitt.
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